17,791 Shares in Sagimet Biosciences Inc. $SGMT Bought by ORG Wealth Partners LLC

ORG Wealth Partners LLC purchased a new position in Sagimet Biosciences Inc. (NASDAQ:SGMT) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 17,791 shares of the company’s stock, valued at approximately $143,000. ORG Wealth Partners LLC owned about 0.06% of Sagimet Biosciences at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SGMT. Millennium Management LLC raised its holdings in shares of Sagimet Biosciences by 257.1% during the 4th quarter. Millennium Management LLC now owns 693,247 shares of the company’s stock worth $3,120,000 after buying an additional 499,094 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Sagimet Biosciences during the fourth quarter worth about $249,000. NewEdge Advisors LLC purchased a new position in Sagimet Biosciences in the 1st quarter worth approximately $105,000. OMERS ADMINISTRATION Corp raised its position in shares of Sagimet Biosciences by 46.3% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 85,600 shares of the company’s stock worth $279,000 after acquiring an additional 27,100 shares in the last quarter. Finally, Abacus Planning Group Inc. bought a new stake in shares of Sagimet Biosciences during the first quarter valued at approximately $85,000. Institutional investors and hedge funds own 87.86% of the company’s stock.

Insider Buying and Selling

In other Sagimet Biosciences news, insider Eduardo Bruno Martins sold 8,277 shares of the firm’s stock in a transaction on Monday, July 21st. The stock was sold at an average price of $9.13, for a total transaction of $75,569.01. Following the transaction, the insider directly owned 106,936 shares in the company, valued at $976,325.68. This trade represents a 7.18% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David Happel sold 65,478 shares of the business’s stock in a transaction on Monday, July 21st. The shares were sold at an average price of $9.13, for a total transaction of $597,814.14. Following the completion of the transaction, the chief executive officer owned 689,722 shares of the company’s stock, valued at approximately $6,297,161.86. This represents a 8.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 84,535 shares of company stock worth $771,805 over the last ninety days. 14.70% of the stock is owned by corporate insiders.

Sagimet Biosciences Trading Up 2.8%

Shares of NASDAQ SGMT opened at $7.34 on Friday. The company’s 50-day moving average price is $7.88 and its 200 day moving average price is $5.90. Sagimet Biosciences Inc. has a 52 week low of $1.73 and a 52 week high of $11.41. The stock has a market cap of $238.71 million, a price-to-earnings ratio of -4.01 and a beta of 3.34.

Sagimet Biosciences (NASDAQ:SGMT) last issued its quarterly earnings results on Wednesday, August 13th. The company reported ($0.32) EPS for the quarter, beating the consensus estimate of ($0.52) by $0.20. As a group, research analysts expect that Sagimet Biosciences Inc. will post -1.6 earnings per share for the current year.

Analyst Ratings Changes

SGMT has been the topic of several research reports. Wall Street Zen upgraded Sagimet Biosciences from a “sell” rating to a “hold” rating in a report on Sunday, September 21st. Jones Trading lifted their target price on shares of Sagimet Biosciences from $15.00 to $27.00 and gave the company a “buy” rating in a report on Friday, June 6th. Canaccord Genuity Group began coverage on shares of Sagimet Biosciences in a research note on Thursday, July 24th. They issued a “buy” rating and a $28.00 price objective on the stock. Wedbush initiated coverage on shares of Sagimet Biosciences in a research note on Monday, August 11th. They issued an “outperform” rating and a $28.00 target price for the company. Finally, HC Wainwright upgraded shares of Sagimet Biosciences to a “buy” rating and set a $29.00 price target for the company in a report on Thursday, August 7th. Six research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $25.67.

About Sagimet Biosciences

Sagimet Biosciences Inc, a clinical-stage biopharmaceutical company, develops therapeutics called fatty acid synthase (FASN) inhibitors for the treatment of diseases that result from dysfunctional metabolic pathways in the United States. The company’s lead drug candidate is Denifanstat, a once-daily pill and selective FASN inhibitor for the treatment of metabolic dysfunction associated steatohepatitis.